TMI Blog2017 (5) TMI 1699X X X X Extracts X X X X X X X X Extracts X X X X ..... (supra). Appeal of the Revenue is dismissed. - ITA No.822/Mum/2017 (Assessment Year :2012-13) - - - Dated:- 16-5-2017 - Shri R.C.Sharma, AM Revenue by Shri A.K.Kardam Revenue by Ms. Sonalee Godbole ORDER R.C.Sharma (A.M): This is an appeal filed by the Revenue against the order of CIT(A)- 1, Mumbai dated 04/11/2016 for the A.Y.2012-13 in the matter of order passed u/s.143(3) of the IT Act. 2. In this appeal Revenue is aggrieved for deleting disallowance of assessee s claim of depreciation. 3. Rival contentions have been heard and record perused. Briefly, facts of the case are that the assessee is a trust registered with DIT (E), Mumbai u/s. 12A and u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lT (E) Range-II 148 ITO 388. On perusal of this judgement it is noted that the Hon. ITAT while dealing with the same issue have observed as under :- In our view the exemption u/s 11 is available on the income of the public charitable / religious trust or institution which is otherwise taxable in the hands of other persons. Thus the income which is exempt u/s 10 cannot be brought to tax by virtue of sections 11 and 13 of the Act because no such pre condition is provided either u/s 10 or 11 to 13 of Income-tax Act. Therefore, section 11 to 13 would not operate as overriding affect to the section 10 of the Act. The language of these provisions does not suggest that either section 10 is subjected to the provisions of sections 11 to 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for charitable or religious purposes. We have not found anything in the language of the two provisions nor was Mr. Malhotra able to point out as to how when certain income is not to be included in computing total income of a previous year of any person, then, that which is excluded from section 10 could be included in the total income of the previous year of the person/assessee. That may be a person who receives or derives income from property held under trust wholly for charitable or religious purposes. Thus, the income which is not to be included in computation of the total income is a matter dealt with by section 10 and by section 11 the case of an assessee who has received income derived from property held under trust only for charitabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal's view cannot be termed as perverse or clear language of these provisions enables us to uphold the order of the Tribunal. It is, accordingly, upheld. The Revenue's appeal does not raise any substantial question of law. iii. In view of above, Assessing Officer is directed to follow the findings of Hon'ble courts as above and allow the appellant's claim of exemption under section 10 on dividend income -received during the year after due verification. 5. Against the above order of CIT(A) revenue is in further appeal before us. 6. I have considered rival contentions and gone through the orders of authorities below. The issue under consideration is squarely covered by the decision of Bombay ..... X X X X Extracts X X X X X X X X Extracts X X X X
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